The present invention relates to techniques for collaboratively negotiating financial transactions, and more particularly, to techniques for accommodating merchant and buyer preferences that relate to financial transactions.
Devices such as personal Digital Assistants (PDAs) and cellular telephones are examples of mobile Personal Trusted Devices (PTDs). As used herein, the term personal trusted device (PTD) refers to a device having processing and storage capabilities allowing it to host and to operate a data aggregation software application useful for managing and manipulating information. Devices falling within this definition may or may not include a display or keyboard, and include but are not limited to cell phones, wireless communication tablets, personal digital assistants, RF proximity chip cards, and laptop personal computers.
PTDs may be able to perform secure data transfer functions such as, for example, hardware identification or software authentication functions that are used in a non-repudiation process with the device creditors or device owners. Many PTDs can communicate via cellular and wireless ISP networks over long distances. Many PTDs can also exchange data over short ranges, typically 1 mm-10 meters, for purposes of secure data sharing between PTD devices and such peripheral devices as printers.
Cellular phones provide a variety of transactional features. For example, cellular phone users can access bank accounts and purchase items from merchants. Consumers are also able to access personal accounts and purchase merchandise via websites and similar portals. Cellular networks can provide support functions such as consumer authentication, device authentication, transaction authorization, event logging, and settlement, all necessary functions for a non-repudiation process typically required by creditors.
An RF proximity chip card is a card that contains an integrated circuit and an antenna for power coupling and data communications. An RF proximity card typically receives power for on-card electronic functions from an induced electromagnetic field generates within about 10 cm of a communications transceiver. Data is transferred to the on-card chip via electromagnetic sub-carriers and switching of the electromagnetic field.
Prior art computers allow users to set preferences associated with financial transaction that are conducted over the internet. For example, a computer user can select a preferred credit card to be used with transactions conducted through a particular web site.
Merchant web sites can also have preferences associated with financial transactions. For example, a merchant may prefer that consumers purchase the merchant's goods using a merchant issued credit card. A merchant may, for example, offer discounts to consumers who use the merchant issued credit card.
However, prior art systems have not provided techniques for resolving differences between a merchant's predefined preferences and a buyer's predefined preferences in a transparent mode. Therefore, it would be desirable to provide techniques for conducting financial transactions that accommodate both the merchant's predefined preferences and the buyer's predefined preferences regarding financial transactions.